Xue Jiao Lin, Xing Lian pay $2.1M for retail in Crown Heights

Xue Jiao Lin and Xing Lian through the entity Lian Xing 168 LLC paid $2.1 million to John Kim for the retail building (K1) at 264 Schenectady Avenue in Crown Heights, Brooklyn. The expected use is cash flowing.
The deal closed on September 4, 2025 and was recorded on September 19, 2025. The property has 4,243 square feet of built space and 7,732 square feet of additional air rights for a total buildable of 11,967 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $494 and the price per buildable square foot is $175 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for John Kim was John Kim. The signatory for Xue Jiao Lin and Xing Lian was Xue Jiao Lin. The contract date was May 16, 2025.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Xue Jiao Lin had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller John Kim had not purchased any other properties and had not sold any properties over the same time period. The 4,243-square-foot property generated revenue of $158,943 or $37 per square foot, according to the most recent income and expense figures.

The property

The retail building in Crown Heights has 4,243 square feet of built space and 7,732 square feet of additional air rights for a total buildable of 11,967 square feet according to a PincusCo analysis of city data. The parcel has frontage of 47 feet and is 103 feet deep with a total lot size of 4,925 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $812,000.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has not received any significant violations in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Crown Heights, The bulk, or 39 percent of the 46.5 million square feet of commercial built space are walkup buildings, with elevator buildings next occupying 36 percent of the space. In sales, Crown Heights has 2.3 times the average sales volume among other neighborhoods with $661 million in sales volume in the last two years and is the 8th highest in Brooklyn. For development, Crown Heights has near average amount of major developments among other neighborhoods and is the 12th highest in Brooklyn. It had 1.3 million square feet of commercial and multi-family construction under development in the last two years, which represents 3 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of 26 of the 40 commercial properties representing 273,595 square feet of the 344,197 square feet. The largest owner is Robert Rosenberg, followed by Local Development Corporation Of Crown Heights and then Platinum Realty Associates.
There are no active new building construction projects on this tax block.

The majority, or 85 percent of the 344,197 square feet of built space are walkup buildings, with mixed-use buildings next occupying 12 percent of the space.

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